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Office Market News

Nord City Tower’s situation improving after the takeover by ING from the bankrupt developer

The occupancy rate of the office building Nord City Tower from Pipera, a project taken over by ING bank from the bankrupt developer, doubled compared to the first quarter of 2012.

Adama: The market starts enrolling on an upward trend

The rhythm of the sale process in the first five months of this year are according to the forecast from the begging of 2013: the market starts enrolling step by step on an upward trend, and the residential request is growing, said the officials of the real estate developer Adama.

Colliers: Business parks outside the cities make no sense anymore; they have to be mixed-use projects

Business parks’ development in the cities’ outskirts doesn’t make sense considering the conditions of the new generation of employees needing more flexibility, and those should be replaced with mixed-use projects, has declared Ilinca Paun, managing partner within Colliers International.

Energy certificates, mandatory for real estate transactions starting 20th of July

The owners will have the obligation, starting 20th of July, to show the building’s energy certificate to the potential buyer or tenant in the real estate transactions.

Rewe Romania to invest EUR 100 mln in new outlets and store upgrades

Rewe Romania will open over 40 new outlets under the Penny Market and XXL Mega Discount retail brands, this year and the following one, and it will also further upgrade and modernize its existing network, the company has announced. This will require investments of over EUR 100 million, said Rewe Romania representatives.

A new underground parking for central Bucharest

A new parking will be soon developed in the city centre, under the Edgar Quinet St., between Bucharest University building and ”Ion Mincu” Architecture University.

Improving economic sentiment yet to impact office market

2013 is likely to remain a difficult year for office markets and aggregate take-up fell sharply in Q1 to the lowest quarterly level since 2009, shows the latest market study of CBRE global Research and Consulting.

UniCredit to recover 80% of EUR 22 million credit for Alia Apartments

UniCredit Tiriac Bank estimates to recover almost 80% of EUR 22 million credit gave to the Spanish developers of the residential complex Alia Apartments in Arcul de Triumf area, through the selling and renting of the flats that were not sold before the project insolvency of last year.

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Adina Camara

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